Belgium Signs TIEA With Bermuda

by Phillip Morton, Investors Offshore.com

10 December 2009

Didier Reynders, Minister of Finance for Belgium, and Paula Cox, Bermuda's Prime Minister, concluded a Tax Information Exchange Agreement on behalf of their respective countries in Brussels on December 8.

Commenting on the agreement, Cox said that Bermuda’s proposed treaty with Belgium is one more example of Bermuda moving swiftly to expand upon its role in the global financial network, to strengthen and deepen its relationships with other financial centers, and to exceed the expectations of international bodies such as the Organization for Economic Cooperation and Development (OECD).

“In addition to concluding negotiations with Belgium, this week Bermuda is acting as Co-Chair of the OECD Global Forum Steering Group in Paris,” Cox continued. “Bermuda was elected to this internationally prestigious and influential position at the meeting of the OECD Global Forum in September of this year. In each respect, both in exceeding international standards of information exchange and transparency by concluding tax information exchange agreements such as with Belgium, and by taking a leading role in international bodies that set global tax policy, we are adding to the attraction of Bermuda as a leading domicile for international companies and affirming our long-standing position as a leader in international business," she said.

Belgium concluded a similar agreement with the Bahamas on December 7.

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